Saving, investing and making money with technology

Tag: personal finance

Thinking of long-term investments? Here is how you should proceed

Investments are an excellent way to save and make money. Whether it is investing in gold and real estate or venturing into equity or passion investments, the various methods require one to bear the market risks as he or she awaits a healthy return on investment. One caution many would recommend against the risks the market poses is to invest long-term so that your capital can bear out any fluctuations and post growth over a period.

If you too are considering long-term investments, here are some tips on how to proceed to ensure the best returns:

Research

Smart investment requires in-depth analysis. One needs to be aware of the company’s promising products and strategies. Various comparison websites and other online resources help people understand and analyze investments today. If going for a unit trust or a mutual fund, it is also advisable to look at the fund’s performance over the past few years and check the management fee as well.

Diversify

No matter how brilliant a single option seems, diversifying your capital is of utmost importance – be it through the stock market, bonds, mutual funds, or any other instruments. As a general rule, it is advisable not to invest more than 10% of your portfolio in a single instrument. Diversifying provides the investor protection against a collapse in any particular sector over a long duration of time.

Maintain a balanced portfolio

Every investor wants to stay in the market with minimal risks, and the key to moderate risk appetite is a balanced portfolio. Help your investments generate a decent CAGR with a healthy mix of small-cap, midcap, multi-cap, and large-cap. Take higher risks during the initial years to create a suitable initial corpus and compounding returns can be enjoyed towards the later years.

Do not hurry

Perhaps the most crucial piece of advice for a long-term investor is to take the long view. Trading frequently is a no since the commission is bound to eat into one’s funds. It is equally necessary not to follow the trends and fads and diversify in a smart, sensible way. A lot of investors panic when the market occasionally crashes, but over the years, it is bound to crash some time or the other. Rather than the time to take preventive measures, consider a crash as a buying opportunity.

While age-old investment methods like fixed deposits are still in high demand because of the safety net they provide and some schemes like Bajaj Finance Fixed Deposit also provide a high FD interest rate of 8.40%, with additional rates of interest for senior citizens. You can use the online Fixed Deposit Interest Calculator to check how much you can gain by investing in an FD.

So, while fixed deposits are indeed the way to go for those unwilling to take any risks, people who can afford to stay in the market should go for the other available options. The longer you invest for, the more protected you are against market fluctuations and the higher returns you can enjoy.

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Skills You Must Learn In Order To Save Money

Even though most people who work to earn their living have a clear idea about what they are going to do with their earnings, a majority of them fail in one aspect – savings. Yes, there is that dream amount of monthly savings but so often people fail to meet that goal and end up blaming it on various reasons. Just like earning money requires skills, so does saving money. It is a smart tactic which most affluent people practice without having to come off as a cheapskate. All it takes is some discipline and some skills which anyone can hone with time and patience. Here are some of them.

Hunting for deals

One of the most significant monetary skills you can learn is the cleverness of deal hunting. Not to be mistaken by the occasional browsing of clearance racks at preferred clothing stores, hunting for deals requires a nose for good deals and the experience of an investor. It requires a person to have his eyes and ears open at all times. A small property opening at a sector which offers 30% growth in ten years – tie it down. A noted supermarket conducts fire sales at a certain time of the year – make sure all shopping activities are arranged keeping in mind the annual date of the sale. All of these small factors could not only help a person to save extraordinary amounts on a regular basis, they also get to maintain a healthy level of lifestyle by paying less.

Self management of financial tasks

Learning to manage ones’ finances sensibly helps in saving a lot of money. It can help a person to avoid paying excessive interest on credit cards, dodge needless bank charges and save on other expenses. Learning to comprehend legal or fiscal papers can help people determine whether or not they are taking the finest contract on their mortgage or selecting the top checking account. In order to start becoming a self-manager of person finances, here are the first steps everyone must take –

* Recite the fine print for every bank account. Double check to find a better option at the bank.

* Balance all bank accounts on a regular basis.

* When taking a loan, make sure that only the best offer on the market is getting selected.

Making a budget

A personalized budget can easily be created using the programming language C#. For better insight, you can visit portals like Csharp-Station.Com – a community website for ambitious people willing to make their customized applications. Once the users are able to master functions such as how to execute stored procedure in ASP Net Using C# they can create their own budgets that can be strict and compact.

Learning about investing

Once the savings are on track, every financially ambitious person must sit down with an expert and think about multiplying his savings. Investing is a skill set that is most important for anyone looking to make it big in the modern market.

By developing these skills, anyone can become smarter and wealthier. These skills can be mastered with a little bit of effort, and the rewards can be lost lasting.

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12 Quick Tips to Cut Down Your Monthly Budget

If you want to save money, pay attention to how you’re spending it. Little luxuries like a latte every morning add up fast. But if you’ve been pinching pennies for a while and feel like you’re getting nowhere, it may be time to reevaluate your priorities. These tips provide specific steps you can take to reduce your bills and trim the fat from your monthly budget without scrimping on the good stuff.

1. Plan your meals

After a busy day, the last thing you want to do is more work in the kitchen. But if you plan for quick and easy weeknight meals, making dinner doesn’t have to be a chore. Avoid the take-out trap by prepping your breakfast or lunches for the week, and watch those few dollars a day add up to significant savings over the course of a month. Once you’ve planned your meals for the week, craft a grocery shopping list to keep you on track when you’re cruising the aisles. Also, remember that grocery shopping hungry is a recipe for disaster.

2. Cut the cord

Look carefully at the cost of cable or satellite TV and decide if it’s worth it for your household. Most of the time, you can catch your favorite shows with subscriptions to streaming services like Sling TV or Hulu. Not sure if cutting the cord makes sense for you? This cord-cutting tool will let you select which channels you can’t live without and recommend a streaming package that fits your viewing priorities. Cutting the cord may save you up to $100 per month, so it’s worth a shot.

3. Energy savings add up

Every penny counts, and that’s especially true of energy consumption. You may not realize it, but with a few minor tweaks and changes, you could increase your energy efficiency and save hundreds of dollars per year. An excellent place to start is the Energy Saver Guide published by the Department of Energy. It’s full of tips to help you save money at home, including how to conduct an energy audit, weatherize your home, and choose energy efficient appliances.

4. Plan for big purchases

Need a new car or plan to go back to school this year? Work those big purchases into your monthly budget as smaller line items so when it comes time to pay the bills, you’ll have enough set aside to cover the costs. This system works well even for luxuries and can help you appreciate the effort it takes to afford these items rather than feeling guilty about splurging.

5. Take advantage of discount days

Just because you’re trying to save money doesn’t mean you have to scrimp on the fun. Look for coupons for local activities and entertainment or catch an afternoon matinee to see the latest blockbuster. You can also check out local attractions during free museum day or check online to schedule your next visit for a discount day.

6. Play it safe and stay in

Partying it up at home has lots of hidden benefits, including not having to call an Uber at the end of the night. Offer to play host and have your friends congregate at your place for a potluck dinner party or take turns having a weekly cocktail hour. If you have a large group of friends willing to chip in, you’ll get a change of scenery along with your savings.

7. Clean house

This tip applies to more than just tidying up. Go through closets and cupboards looking for things you don’t use anymore. Sell high-priced items in your local classifieds and have a garage sale to generate a little extra cash flow. And if you send things to a local nonprofit, remember to get a receipt. Those donations may be tax deductible.

8. Get it on loan from the library

You’ll be shocked by what you can get on loan from the library these days. In addition to books, music, and movies, you may be able to check out toys, games, tools, and even telescopes. Also, remember that libraries offer community classes on lots of topics from auto repair to computers to financial advice.

9. Give of yourself

Before you go out and buy a last-minute birthday gift, think about what that person in your life would truly appreciate. Volunteer together at their favorite charity, spend a day picnicking at a local park, or craft something truly one-of-a-kind. Often, you’ll discover that giving your time and attention is a much better way to show your love than any gift money could buy.

10. Repurpose, reuse, and recycle

Buying used is an attractive option if you’re looking for a bargain, and it’s also a way to cut down on waste. Shop thrift stores for clothing and furniture, and consider refurbishing electronics instead of forking out extra dough for the latest technology. That old iPhone may work just fine with a new battery and a little TLC.

11. Look into lowering your monthly bills

Car payments, student loans, and insurance bills can be expensive and may be the largest line items on your monthly budget. Do your research online and work the phones to see if you can find yourself a better deal that will lower your monthly payment. While cutting corners on expenses may add up over time, reducing these bills is the easiest way to get more bang for your budgeting buck.

12. Schedule time for finances

Last but certainly not least is scheduling the time to work on your finances monthly. If saving money is a priority for your household, set aside time to evaluate your spending, draft a budget, and invest wisely. As Benjamin Franklin once said, “An investment in knowledge pays the best interest.

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Jim Cramer Views Restoration Hardware as Model for High Stock Prices

If you want to see the hottest financial news that’s trending today, Check out this recommended article below.


ETF Trends•June 14, 2018

This article was originally published on ETFTrends.com.

Jim Cramer, founder of TheStreet and host of CNBC’s Mad Money used Restoration Hardware as the model for a recipe of higher stock prices.

Cramer told TheStreet that the key ingredients for a higher stock price include a robust consumer, a big short position in the stock and sharply better-than-expected earnings per share–all factors inherent in the Corte Madera, California-based home furnishing company.

In particular, Cramer was effusive in his praise for Restoration Hardware CEO Gary Friedman who took over the company in 2001 when it was on the verge of bankruptcy before helping to turn it into the powerhouse that it is today.

“Gary (Friedman) is a remarkable merchant,” Cramer told TheStreet. “His stores are not stores; they’re galleries and it’s exciting and we’ve used a lot of his stuff. Gary has got a vision and he’s got a way to run a company. Congratulations, Gary–you really did it. The stock’s not done going higher.”


Related: Jim Cramer: How to Diversify Your Portfolio
Restoration Hardware is currently trading at almost three times its stock price compared to a year ago. As of 2:00 pm Eastern, RH was up 0.07%.

ETFs with a large percentage of Restoration Hardware are worth a look, including Invesco S&P Small Cap Cnsmr Discret ETF (PSCD) , Invesco S&P SmallCap 600Â Pure Value ETF (RZV) , and First Trust Small Cap Val AlphaDEXÂ ETF (FYT) .

Click here for more equity-related ETF news.

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Business Checks vs Personal Checks: The Untold Advantages of Using Business Checks

Personal checks are usually available at a much cheaper rate compared to manual business checks. This often prompts people to wonder about the differences between the two. Is it worth paying extra buying business checks? Well, the higher cost of business checks is justified by a few extra features that are geared to serve business users. For starters, business checks have larger dimensions and they are thus easier to print on. Apart from its size, business checks also come with more customization options as well as more security features. Without further ado, let’s check out a few advantages of using business checks for making business payments.

More Security:

While individuals rarely write checks, businesses need to issue multiple checks every month. The sheer number checks issued by businesses makes them susceptible to check fraud. Personal checks do come with standard security features such as watermarked text and designs. However, they don’t have as many security features as business checks. Right from holograms to heat sensitive paper, the latest in security technologies are often employed to make business checks more secure. Businesses can also spend extra and buy high security laser business checks. These checks are impossible to counterfeit and thus delivers a level of peace of mind that standard personal checks cannot match.

Fits a Double Window Envelope:

Personal users often write checks and hand them over to recipients. Businesses rarely do that. Most businesses print checks using their accounting software programs and send them via mail. Sending checks through the mail, allows businesses to get a delivery acknowledgement from the recipient. Now, the favored enveloped to send checks via mail is a double window security envelope. Business checks have a size that perfectly aligns with the transparent windows. This is why if you intend to send checks via mail (like most businesses) you need to order business checks.

They Come with Check Stubs:

If you have always used personal checks then there is a good chance you have never heard of check stubs before. They are tiny pieces of paper that are attached to each individual check. The purpose of check stub is to record the information of all the checks issued. Considering businesses need to write hundreds of checks in a calendar year, these stubs are essential for recordkeeping and they help business owners settle payment disputes.

They Are Not That Expensive:

If you are ordering business checks from the bank then you are certainly paying more than you should. If you skip the bank you should face no trouble finding cheap checks online and supermarkets. Now, because businesses typically order checks in bulk, the per-check cost can actually be lower than personal checks ordered from the bank.

Customization Options That Matter:

Business checks come with personalization options that personal checks typically do not. For example, you can order business checks with extra a memo line and a space for two signatures. Business checks also have room for business contact information and a company logo. This allows businesses to boost brand visibility.

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The Best Financial Moves to Make to Help Improve Your Finances

You know, It’s understandable if you gotten off course financially during the last couple months of the year. But, if you don’t want bad money habits to follow you into the New Year. If your finances have slipped, it’s time to get back on track and devise a plan to tackle your debt efficiently and effectively. Take a step back and evaluate your finances, so you can become more successful. You really need financial experts to help you to get your finances back on track.

Chase Rubin has served the financial industry for more than twenty years. And he is currently sharing his knowledge and expertise regarding the investment industry to inform the general public. There is no doubt Chase Rubin is currently one of the most successful private investors. He moved to New York to further his career in finances and investments and works and lives in the East Village. The expertise he gained as the result of the economic crash of 2008 has prepared him for whatever the market brings in the future.

Here are some tips that can help you refresh your finances and stay motivated.

You Should Review Your finances

Take a look at your overall finances and consider setting both short-term and long-term goals. Confused about where to start? You may want to begin by obtaining a free copy of your credit report at Credit.com. Through Credit.com, you can request reports from all three of the major nationwide credit bureaus: Equifax, Experian and TransUnion.

Since you might have been using your credit cards often during your holiday shopping, be sure to check your credit report for any irregularities. Fraud and identity theft skyrocket during the holiday season. While you are checking your credit report, you also might want to check your credit score. If you are using more than 30% of your credit cards, you may see a slight drop in your score in the post-holiday season. While credit scores can fluctuate slightly from time to time, it’s important to recognize when a deep drop occurs so you can find the problem and resolve it as soon as possible.

And Also Set Goals and Make a Plan

We all know if you set goals it will give us something to look forward to and work toward. Make a list of all the financial goals you plan to achieve in the next 12 months or so. Establish a payment strategy that works best to tackle not only your post-holiday debt, but also your overall debt. Consider making a list of all of your debts (secure and unsecure) and devise a plan on how to get them down.

And also, ask yourself what your short-term and long-term goals are. Because you might be looking to save up for a wedding, for retirement planning, or for your student loans. When it comes to loans, consider paying more than the minimum and making payments twice each month to help tackle your debt more efficiently. If you think you won’t be able to tackle all of your debt at once, focus on the highest-interest rate debt first before you work on the rest.

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How Artificial Intelligence is shaping the e-learning scenario in India?

 

Machines direct Artificial Intelligence, and it can be regarded as any study by intelligent agents or device. It functions depending on what it receives from its surroundings and this way it maximizes the chance of giving the best results. With the advancement of technology, e-learning is helped dramatically. The way individual look at education has changed rapidly with the influence of technology including artificial intelligence. Ways to access education through the help of technology has become efficient, and students are able to learn strategically and evaluate well than before. In addition to this, students are able to analyze their own pace of learning. There is little difference between robotics and artificial intelligence and the latter has evolved in every sphere of human lives. It is also used in computer games such as chess master. It is capable of making decisions quickly than human.

By the help of simple searches, students are able to explore the variety of new study material present. It might not be possible for an instructor to remember everything present in a material whereas a machine can do it. In cases of bank exams, there are many aspects that need to be learnt by a candidate. In SBI PO, the officer will be taught to work on various categories like finance, accounting, marketing, billing and investing which might take years for some people to master, but a machine can teach you what you want at your own pace. E-learning may be common to most of the teachers, but they may not be aware of artificial intelligence. With the combination of both e-learning and artificial intelligence, it has made easier both for the teachers and the students to grasp a better insight into the learning of various topics. Other than students, teachers also get the chance of exploring every topic in depth and acquire the knowledge for solving any question.

How artificial intelligence helped human beings?

Artificial Intelligence has an immense contribution to human life, and within the couple years, it is going to influence every sphere of human life starting from communication, travel, to online shopping. It helps to give personalized results to the teachers when they are engaged in any classroom program. In any class, there are remedial students, advanced students, meritorious ones and there are different needs for each of them. What AI or Artificial Intelligence does is that adopt every student’s learning method and work according to the needs analyzing both the strength and the weakness of the students.

How AI analyzes students?

Similar to that of human tutors, AI takes in account the capabilities of the student and tries to deliver the result according to the need of the student. It also tries to know about the learning style of the student and give it customized instruction and support pertaining to the subject of need. Previously, the tutors or the teachers were held responsible for any wrong information that they might have conveyed to the students. But according to the present scenario, for any wrong information that the students have incorporated, the Artificial Intelligence cannot be held responsible for the same. The students should be careful while using the AI for fetching different information.

As the AI analyses the performance of students in the examination or assessments, it is able to judge the condition and the confidence level of the student and identifies well the gap in the course content. Therefore, it provides the required gap based on the performance of the student. In case of any incorrectly answered question, the AI marks those question as zero such that educator is able to understand about the level of preparation of the students. The educator shall further focus on the area of improvement that should be provided to the students.

Get meaningful feedbacks via AI

With the aid of AI, students also get the opportunity to get meaningful feedback pertaining to their performance. They might be uncomfortable with receiving any kind of feedback in the public forum, and thus AI is helpful. In addition to this, the AI also helps in grading when is considered to be one of the tiresome tasks. With the usefulness of technology, AI can easily analyze an examination via the answer key provided. They quickly combine the data and results in the performance level of the students.

Eliminating communication and language barrier

Again, with the involvement of Artificial Intelligence, communication has also become advanced as students can expect ready feedback to any of their queries that they post doubt questions on any forum. They can also find out the query with the help of text messaging, and this shall help the learners to prepare themselves for all kind of competencies. If they wish to get relevant information on any particular topic, then they can easily take the help of AI to get ready resources.

The language barrier that takes place between the teacher and the student is also taken care by AI in which the AI understands various languages and has the ability to comprehend the same. Further, it gives outcomes such that the result is understandable by the students well. The interface is capable of understanding various language, noise, and change in the human voice. The interface is also greatly useful in the distance learning procedure. But, the cost of the same might vary.

Bhola Meena has founded 3 major Internet-based companies-GetMeCab, HinKhoj, and OnlineTyari. His latest venture OnlineTyari helps over a million students every month in their government exam preparations. He has 7 years experience as Tech Lead at Microsoft and he is an IIT-Kanpur Alumni.

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Better Team Relationships Improve Productivity and Finances for Small Businesses

Major corporations may have the deep pockets to help their brands succeed, but small businesses have something up their sleeves as well – happier employees. Studies have proven that people who work for small companies are a lot happier than those who don’t. As an entrepreneur should know, having a team of talented, engaged, productive, and happy group of people, with a professional business plan working for you is invaluable. Not only does this lead to a progressive workforce, but it reduces turnovers, and increases profitability. Below, is a closer look at how small businesses are winning by cultivating positive team environments.

They Realize the Importance of Staff

Large businesses have the capital to invest in tons of software, technology, and the cost of turnover rates. Modern technology such as software, equipment, and devices easily replace the significance of hiring someone while a big budget makes it simple to replace staff that decides to leave. They also have so many more responsibilities to handle, that focusing their time and energy on the happiness and well-being of their staff isn’t always at the top of the list.

Small businesses, on the other hand, realize that every hire is special and a key component to progressing their brand forward. Relying more on the talent and collaborative skills of their team than expensive software, devices, or equipment, smaller companies have a true appreciation for what their staff does to help. Often having more time and reason to focus on the continued growth, happiness, and well-being of their staff, the invest a lot in creating an environment where everyone can work together amicably and productively.

How to Create More Positive Team Relationships

When companies are able to create a positive team environment and keep their staff happy, they experience a wealth of benefits. This includes fewer turnovers, improved productivity, and increased profits. If you’re looking to capitalize on these benefits, the below-mentioned tips should lend you a helping hand.

Get Personal – Smaller organizations with fewer employees have the time that is required to get more personal with their staff. By learning who they are as individuals and what their needs are in the workplace, you can create a more positive environment for everyone to work in. It shows them that you care which encourages them to put their best foot forward.

Invest Where it Counts – Employees do their best work when they have the proper tools at their disposal and employers know the value of workplace productivity. If you want a more collaborative team environment that allows them to work seamlessly together, you’ll need to invest where it counts. This includes looking into collaborative software that makes working as a team easier. From cloud storage accounts and messaging or chat applications to note and document sharing platforms and other software, there are an array of tools that can be invested in to increase productivity and profits.

Create the Ideal Space – How your staff works together is extremely important and can essentially control the destiny of your brand. If you want to help your staff build a more positive relationship with one another, you need to create the space for it. Things like brainstorming rooms, open office layouts, and comfortable places for eating, communicating, or relaxing during downtime can help with this. When your staff feels encouraged to come together more often, they get to know one another making it easier for them to work together as a unit.

From the receptionists and secretaries all the way up to management, it’s the people that matter most to small businesses. It is understood that without their skill, passion, and creativity the ability to progress a company forward is nearly impossible. This is why small businesses work so diligently to cultivate a positive working environment that makes their staff happy, cultivates better team relationships, improves productivity, and saves money. Something that most larger organizations simply haven’t learned yet.

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Considerations for Launching a Tech Startup

Now the time to launch your tech startup. You have brainstormed and decided to move forward with your plans. Or maybe, you just have the idea and nothing else.

It could be that you appreciate that tech is a hot sector and having an iron in the fire is most important. Whether you have a product in mind or are just looking to get into the sector with the help of some unsecured small business loans, this article will help you consider what you will have to contend with as you begin your journey:

Current Hot Tech Topics

If you are someone with ideas or are unsure where to focus your efforts, the very first thing to do is research those areas of tech that are gaining traction now. What products are being developed and what opportunities may exist? Here are some of the hottest trending areas.

– Wearable Tech

This has been with us for decades but continued advancements and integration with smart home devices and augmented reality will result in even more options being made available to entrepreneurs.

– Augmented Reality

Yes, virtual reality (VR) is still a thing. Manufacturers of VR devices continue to improve on their offerings, but now augmented reality (AR) is ready to be used by government and business, and eventually household consumers. Opportunities exist to create applications that generate the overlays used with a real-world environment.

– Internet of Things

Smart home devices, traffic cameras, GPS sensors in automobiles, are examples of things that are connected to the Internet but not manipulated by humans. As all aspects of our lives are monitored and controlled by various machines and programs, this segment of technology will continue to grow – as will concerns over the security of IoT and similar tech. When used with other tech, such as AR, numerous possibilities emerge.

Planning for Your Tech Startup

As with any business, you need to clearly define what it is you want to accomplish and put all of this data into a professional business plan. Your business plan is your roadmap to success or failure. It affords you an opportunity to be honest with yourself and with potential investors.

– Research

What are you going to produce? Maybe you have a great idea for an improved smartwatch or maybe you want to create an AR application that can present images of someone else’s smartwatch market yourself as a virtual reseller. Examine your ideas and honestly decide if they may be profitable.

– Capital

How much will this tech venture cost to get off-the-ground and remain afloat? Most high tech ventures are funded by those who specialize in building up tech companies. Seek out those people and make sure you know every word and calculation in your business plan.

Start-up Funding Crowdfunding Investment Venture Capital Entrepreneurship Internet Business Technology Concept.

Understand the Realities of Running a Tech Startup

Whether you receive venture capital for your tech startup or acquire funding from other sources, you have to face the reality of managing your startup. Even if it is just you, and no employees, you need to be able to manage time and resources. If you have staff, there are other considerations to take into account that place demands on your time and take you away from focusing on your desired goals.

Launching a tech startup is a trying, but potentially rewarding undertaking. It’s always worth following a dream and if yours is launching a tech startup, you should go for it. Just appreciate that it involves a considerable amount of work to accomplish, and keep running.

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5 Ways Having Bad Credit Impacts Your Life

Do you have bad credit, but don’t see much reason to try and fix it right now? It’s not uncommon for those with a ton of debt or financial problems to give up or never start the process of improving their credit. The thought of spending the next few months or years living on a tight budget to pay off what seems like an impossible amount of debt is overwhelming, to say the least. Sure, improving your credit history is going to take some hard work and time, however, it can be accomplished. When you consider the consequences of doing nothing, you suddenly find yourself inspired to do the right thing.

Bad Credit Limits Your Borrowing Options

Let’s start with the most obvious consequence to having bad credit – your inability to get a loan. Loans can be very convenient for affording things you want and getting you out of a bind. There are plenty of loans you could consider, however, if you have a poor financial record, you can forget about getting approved by most lenders.

Side note: If you’re really in a jam and your credit isn’t getting you very far, there is the option to apply for alternative payday loans for bad credit. Although not as much cash as you could get with a traditional loan or the attractive low-interest rates you see advertised, it does provide relief. If approved you could receive as much as $1250 in your checking account the next business day.

Bad Credit Could Make it Difficult to Find Housing

Thought that your bad credit would only impact you if you were interested in buying a home? Although it would be challenging to get a mortgage with a negative financial history, that’s not the only form of housing that could become unattainable to you. As more landlords look for reliable tenants, credit checks are fairly common. A tenant who has a history of not handling their finances is a red flag and could get your rental application rejected.

You Can’t Get a Car with Bad Credit

If you have bad credit in a town where public transportation isn’t readily available, you’re going to be in a world of trouble. Getting approved for a car loan is an uphill battle with poor credit. Which means you’ll need to find a car you can pay for upfront with the cash you have available in the bank. Since most people don’t have thousands of dollars stashed away for a new ride, chances are you’ll be catching an Uber or Lyft around town until you’ve saved enough to buy your own.

Forget That Job if Your Credit Sucks

Why in the world would an employer need to know your credit score in order to determine if you’re a good fit for the job? While in some industries, like finance, if you’re unable to handle your personal finances, you probably shouldn’t be responsible for handling anyone else’s. Other employers review credit reports to get a good idea of the type of person you are. Are you responsible and trustworthy? A bad credit history may tell a different story.

Expect Life to Get Pretty Expensive

If not being able to get a loan, housing, buy a car, or land that dream job wasn’t enough of a blow to your life, then this next one’s a doozy. Those with bad credit will pay a lot more on average on things you need. When you have a negative financial history, you’re required to pay deposits for utility or television services. If you are approved for a loan, you’re going to pay a lot more in interest. Products like car insurance will automatically skyrocket. The list goes on.

You may have thought that having bad credit was no big deal. Perhaps, at the moment it isn’t. However, if you plan on doing any of the above-mentioned things in the next 7 to 10 years, you may want to do something about it. That means figure out ways to improve your credit and start adopting more positive financial habits that will set you up for a better future. If you’re seriously having trouble with debt, talking with a debt counselor or financial advisor can guide you down the right path.

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